Page:Federal Reporter, 1st Series, Volume 5.djvu/179

 DEIjMONICO V. r.OUDEBUSH. 1Ô7 �To determine the relations of the severatl parties at tîiis point of time, — that is to say, after $10,000 had been paid upon each of the agreements, — it may be useful to recount that Eoudebush had obtained an agreement to pnrchase the interest of the Denver party for the sum of $165,000, pay- able on or before August 8, 1879, of which $10,000 had been paid out of money f (irnished by Delmonioo and Chaffee ; that Eoudebush had also an agreement to purchase the interôst of the Colorado Springs party for the sum of $135,000, payable on or before Jiily 15, 1879, of which .sum $10,000 had been paid out of moneys furnished by the same parties ; and the property, when purcshased, was to be held by the parties as foUows;' that is to say: Chaffee, three-siiteenths ; Jones, three-sixteenths; Delinonico, one-8ixteenth;''Selover, three- ôixteenths, and Eoudebush, six-sixteenths. Some changes were afterwards made in the stipulations of the parties, not very material tô be noticed in this connection, as that the amount of the ' purchase money to the Denver party was reduced by $50,000, maMng the aggregate to be paid to that party only $115,000; and Chaffee's interest in the property was enlarged by contributions from Selover and Eoudebush. But the interest of the plaintiff was not in any way changed by these negotiations, and ail of the parties named retained some iïiterest in the contracts as intending purchasers.' �At the time the arrangement with Delmonico and Chaffeo was made, it seems that some hope was entertained that tho purchasers wonld be able to obtain possession of the prop- erty upon the payment of the $20,000, and that they would be able to take from the mine the balance of the purchase money within the time limited for its payment. But there was nothing in the agreement to warrant such expectation ; and, in fact, the bond of the Colorado Springs party expressly provided that the grantors should retain possession until final payment should be made. �Soon after the payment of the money, and probably about the first of June, 1879, application was made to the Colorado Springs party to deliver possession to the purchasers, which application was refused; and then, if not before, it must ����